EIRP Proceedings, Vol 6 (2011)

Abstract

The International Public Sector Accounting Standards (IPSAS) is an important step in public sector
accounting reform. Problems arising in the context of adopting a common language through IPSAS are
multiple and not easy to prove their usefulness, advantages and disadvantages of using them, so aim will be
the countries' agreement to accept and adopt these regulations. The preparation of financial statements is a
complex process of aggregating data to form economic and financial indicators. Content and preparation of
the financial statements differ by type of institution, according to their kinds, depending on how their funding
and business profile. The financial statements of public institutions are particularly broad, complex and
lengthy, and the information it provides can often be interpreted only by the professional accountant. The
professional accountant is the only one capable of ensuring providing appropriate information to users that
they base their decisions on the allocation of funds.